Stopping the Leaks

I’m trying to get my personal debt under control using a modified Dave Ramsey plan. I’ve never read his book but many people have told me about it and I’m taking the best of what I’ve heard and going with it. I closed two major credit cards and started saving money for emergencies instead of thinking “I can just use the credit card.” It’s very easy to think of everything as an emergency when it’s on the credit card but when it comes to taking money out of savings I become more selective. I’m staying away from sin’s door by not just having a look at the latest Musician’s Friend catalog and I stopped getting specials emailed to me. Looking leads to desire and desire leads to justification – then in two days it arrives in the mail all shiny and new and after a few hours it ends up collecting dust with all the other great buys which eventually turn into a big pile of junk.

Exodus 16:16-20 (ESV)
This is what the LORD has commanded: ‘Gather of it, each one of you, as much as he can eat. You shall each take an omer, according to the number of the persons that each of you has in his tent.'” And the people of Israel did so. They gathered, some more, some less. But when they measured it with an omer, whoever gathered much had nothing left over, and whoever gathered little had no lack. Each of them gathered as much as he could eat. And Moses said to them, “Let no one leave any of it over till the morning.” But they did not listen to Moses. Some left part of it till the morning, and it bred worms and stank. And Moses was angry with them.

Now that I have fewer credit cards it’s easier to track where my money is going. When you have automatic payments spread over several cards you forget about things and who has time to look at all those statements.

So, now I’m working on is stopping the leaks. I have had a business website for many years even though the business doesn’t make any money from the website. Last night I cancelled that account. It was only $13.95/mo so it was easy to justify keeping it but it’s those slow leaks that sneak up and drag you down. I mean you notice the big ones and fix them, right? So, my Music Biz Website is now reduced to one page on this blog, I kept the domains since they are only a few dollars a year but they are now pointed here. I will let those go too, eventually, but they aren’t costing anything right now.  I know I’m leaving a trap open but I will make notes in my bills due list to cancel them just before they come due – remember, you can’t remember these things they have to be written down in a place you refer to often.

So what else is leaking?

Heavenly Father,
Through your great mercy I have never lacked anything I needed. While it is true that not every foolish desire has been fulfilled you have always taken care of me and every Month when there’s just enough money to pay all of the bills I know that it is by your providence and give thanks. I ask for your help in controlling my spending and keeping to a plan so that I will not be a salve to debt and will be free to glorify your name. This I pray for Jesus’ sake


4 Responses to “Stopping the Leaks”

  1. Paul and I are going through similar adjustments, since an investment property we were counting on has now been on the market for three years. We’ve retired my card and are planning to throw every spare dime toward reducing that debt – treating it as a first priority. May God bless your efforts (and ours) to be more financially responsible.

  2. Amen on that. I have a lot of leaks I need to plug myself, netflix, blockbuster, Napster, HD channels I don’t watch..ect ect I am looking at a hundred dollars a month for stuff I dont use. I have started using cash for everything now, maybe because my cards are maxed out too. Good post Jim, I know I need to be a better stewart of the money I have been blessed with.

  3. I guess I’m not the only one : ) or really : (

    I got rid of Napster a few months ago and have been using and only downloading free CDs you should check it out…

    God bless

  4. Another tip – Paul and I have been checking out DVD’s for free at the County Library. Now, they don’t have first run stuff, and the selection is very limited, but they’ve got the complete works of Shakespeare, several Wagner operas, and any number of classics, along with some really random stuff and kids movies. You might want to see what’s free at your local library. We’re loving it. (We don’t have cable or satellite at all, limiting ourselves to the two channels over the air, which we’ve so far only looked at once this year – the inauguration, and DVD’s)

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